BAGHDAD: Hundreds of angry Iraqis protested on Monday in several cities against a currency devaluation that has slashed their purchasing power amid a pandemic-fuelled economic crisis.
The Central Bank of Iraq (CBI) at the weekend devalued the currency by over a fifth against the US dollar, officially re-pegging the dinar at a bank rate of 1,460 to the greenback.
On Monday, hundreds gathered in Baghdad’s Tahrir Square, demanding the government change tack, furious at the first devaluation in a half-decade.
“The government should collapse before the dinar,” one sign held by a young protester read. Many of the protesters were elderly, who said the value of their pensions had been cut.
